News Point: The Mumbai-based Godrej Properties will develop a residential project in Hinjawadi IT Park, Pune.
Godrej Properties has signed a new deal to develop a residential group housing project in the heart of Hinjawadi IT Park, Phase I, Pune.
Spread over 15 acres, the project will offer approximately 155,000 square metres (1.7 mn. sq. ft.) of saleable area and will be developed as a modern residential development comprising of apartments of various configurations.
Pirojsha Godrej, Managing Director & CEO, Godrej Properties said, “We are happy to add our 12th project in Pune in an important established micro market. This project addition fits well with our strategy of strengthening our presence in the country’s leading real estate markets.”
This project is located behind Wipro in Phase I, the most prime location within Hinjawadi IT Park, and has excellent connectivity to the Mumbai-Pune Expressway.
This project will be developed in partnership with Godrej Residential Investment Program II (GRIP II). This is the third project under GRIP II, the US$ 275 million fund which was announced in March 2016.
